A Critical Examination of Our Financial Policy During the Southern Rebellion. by Simon Newcomb.Scholarly Publishing Office, University of Michigan Library, 1865 - 232 pages |
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Page 6
... Depreciation on Banks , etc . , - Effects of Depreciation on Ownership of Property - Effects of Depreciation on our Future Welfare . 88 122 CHAPTER VI . NECESSITY OF PAPER MONEY - THE LESSONS OF HIS- TORY . Popular Views - The English ...
... Depreciation on Banks , etc . , - Effects of Depreciation on Ownership of Property - Effects of Depreciation on our Future Welfare . 88 122 CHAPTER VI . NECESSITY OF PAPER MONEY - THE LESSONS OF HIS- TORY . Popular Views - The English ...
Page 21
... depreciated twenty or thirty per cent . below coin , to a debt which bore interest in coin , but the lecturers might as well have talked to the winds . The bonds continued to fall until , with the improvement in the military situation ...
... depreciated twenty or thirty per cent . below coin , to a debt which bore interest in coin , but the lecturers might as well have talked to the winds . The bonds continued to fall until , with the improvement in the military situation ...
Page 26
... depreciation of the stand- ard is real , it is the work of stock - jobbers and spec- ulators , who have compassed the depreciation in order to forward their own selfish ends . Perhaps the former doctrine can be most easily and ...
... depreciation of the stand- ard is real , it is the work of stock - jobbers and spec- ulators , who have compassed the depreciation in order to forward their own selfish ends . Perhaps the former doctrine can be most easily and ...
Page 27
... depreciation of the standard ; that the notes are really secure , and will be as good as gold when the war ends . The only objection to this argument is , that it does not bear on the point in question . We are not concerned with the ...
... depreciation of the standard ; that the notes are really secure , and will be as good as gold when the war ends . The only objection to this argument is , that it does not bear on the point in question . We are not concerned with the ...
Page 85
... depreciated to forty cents on the dollar , it is time some other system were adopt- ed . Our true policy is to demand that every man , without exception , shall come forward and do his share of the work . Whenever we organize such a OUR ...
... depreciated to forty cents on the dollar , it is time some other system were adopt- ed . Our true policy is to demand that every man , without exception , shall come forward and do his share of the work . Whenever we organize such a OUR ...
Common terms and phrases
actually amount argument army assignats barrels of flour bill bonds borrow capital cause circulation cloth Congress considered Continental Congress creditor currency debtor demand notes depreciating currency depreciation direct tax effects enacted entire equivalent ernment evil exchange export fact faith farmer give gold coin gold dollar gold value Government government bonds holder Honorable Secretary illustrated increase individual interest labor laws of value legal tender clause legal tender notes less levy loans of coin manufacturer measure ment millions National Bank national debt necessary obliged opinion paid in coin paper money payable pound sterling present price of gold principles productive profits promise public credit public debt question raise reason receive redeemable redemption rise savings bank sell six per cent specie payments speculators supply supposed thing tion Treasury United States notes wealth worth
Popular passages
Page 99 - ... lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
Page 188 - ... periods; property of any sort, however worthless, either real or personal, might be tendered by the debtor in payment of his debts; and the creditor was compelled to take the property of the debtor, which he might seize on execution, at an appraisement wholly disproportionate to its known value. Such grievances and oppressions, and others of a like nature, were the ordinary results of legislation during the revolutionary war and the intermediate period down to the formation of the constitution....
Page 179 - ... notes, but to establish discriminations in business against those who. in this matter, give a cordial support to the Government, and in favor of those who do not. Such discriminations should, if possible, be prevented ; and the provision making the notes a legal tender, in a great measure at least, prevents it, by putting all citizens, in this respect, on the same level, both of rights and duties.